Norway says oil price still "quite high"

STAVANGER, Norway, Aug 26 (Reuters) - The oil price remains "quite high" despite falling sharply from peaks in July, Norway's Petroleum and Energy Minister said on Tuesday.

Asked if OPEC countries should cut output due to the falling oil price, Terje Riis-Johansen said: "The oil price is still quite high, much higher than we expected for 2008 in Norway. I do not see any reason to do anything special with that now."

Riis-Johansen also said that a falling out in politicial and military relations between Russia and the west following the war in Georgia did not impact Norwegian-Russian energy relations.

"I do not think so far that it will have any influence on our energy cooperation," he told reporters at an oil conference in western Norway.

Asked if Gazprom's (GAZP.MM) giant Shtokman gas project should go ahead as planned in light of cooler relations: "I think it will and I hope it will. It's important for us to have cooperation with Russia and we will do that." (Reporting by Wojciech Moskwa and Joergen Frich)